It remains a fantastic time to move and buy property in Devon
and the wider south west as house prices are continuing their unrelenting rise.
New figures show the average cost of rising up the property ladder is a huge seventeen
percent higher than around 5 years ago.

The
Lloyds Bank Homemovers Review says that the average 'step-up' home in the South
West is priced at £256,318. However, a few property hotspots like Salcombe in
Devon and Padstow in Cornwall cost much more.

Andrew Mason, Lloyds Bank mortgages director,
said that the deficit of supply was a primary driver.

"Whilst
the number of home movers has risen significantly since 2009, it remains well
below previous levels and has recovered less strongly than first-time buyer
numbers.

"This
is likely to partly reflect the high costs associated with moving home, as
well as highlighting the difficulties that home owners can face in finding
somewhere suitable to move to due to the shortage of properties available for
sale."

Across the United Kingdom, those moving home
paid around £50,000 more on average in 2015 to take the next step on the
property ladder than they would have done in 2010, the study said.

The median price paid for a house during the
first half of the year by someone who was already on the property ladder and relocating
to their next home was around £260,000, according to the Lloyds Bank Homemovers
Review.

This was a twenty five percent, or around
£50,000, greater amount than the average home mover paid in 2010, when the
house they were relocating into had a cost of around £200,000.

House movers in the capital are faced with
paying forty five percent, or around £150,000, more for a house than they might
have done 5 years ago, with houses there now priced at around £500,000.

In 2015 the average deposit invested by a house
mover was around £90,000, this is 8% or £6,405 greater than in 2014.

According the press house prices are set to
continue to surge across the South West by in the region of 6% per year, for
the next five years. It is reported that this is as a result of a severe
shortage of housing.

Prices across
the South West are said to have risen by around 7.5% year-on-year to April. As a result the average home in the South West
region is reported to be worth £198,325 – which is close to the pre-recession
levels - according to a Nationwide report.

New statistics have been published by The Council of Mortgage Lenders (CML) that show an big improvement in the amount of 'first time buyers' qualifying for a mortgage in the last month of 2013.

The statistics indicate an increase in 'first time buyer' borrowing of over 26% year on year. The amount of first time buyers and people moving home got bigger nationally during the last quarter of 2013. There was an annual increase of 37% and 19%. These numbers are reflective of the increasing trend ...Continue reading...

The estate agency and mortgage group have reported that the number of first time buyers is increasing.

The group has predicted that the amount of first time buyers increased by 15% in the month of April, and that in the first quarter of 2013 that there were nearly 10,000 more first time buyers than in the same period the previous year.The findings used information from estate agent brands Your Move and Reeds Rain, that indicated that there were more than 20,000 first time buyers in April, up n...Continue reading...

It is reported by the Council of Mortgage Lenders (CML) that the level of lending reduced by 9% month-on-month during January. It is estimated that £10.4 billion of lending was advanced last month. This is a 3% reduction on the same period 12 months ago. Even though there is a slowdown, the CML states that it thinks activity to rise in months ahead due to improved mortgage availability and lots of cheap deals on offer.

Other research issued recently by the financial information website 'Money...

New research from Paragon Mortgages has revealed that UK landlords want to add to their portfolios in Q4 2012 as reported on houseladder.co.uk.Paragon Mortgages’ research showed that terraced houses and flats are becoming increasingly popular with buy-to-let investors.

10% of landlords believe they will add to their portfolio in the last quarter of the year and professional landlords are more likely to buy than their smaller scale counterparts.

Lloyds Banking Group is set to lend £5bn to first-time buyers by the end of 2012. This amount will help over 50,000 people to get on to the housing ladder.

The lender is supplying mortgages to one in four first-time buyers ensuring its place as the largest lender in the current market.

Its Halifax sector provides one in three mortgages for affordable housing schemes such as shared ownerships and shared equity. It also provides one third of lending for all of the UK’s new build properties.